Sources: Love, Packers reach massive new deal

GREEN BAY, Wis. -- By late last season, the Green Bay Packers' major decision-makers had publicly stated that they believed they had their long-term starting quarterback.

Now, they've put their money behind him.

The Packers on Friday agreed to terms with Jordan Love on a four-year, $220 million contract that makes him the highest paid quarterback in NFL history. He also gets a record $75 million signing bonus, plus $155 million in new full guarantees.

The deal was negotiated by David Mulugheta and Andrew Kessler of Athletes First.

While Love reported for training camp with the rest of the team this week, he staged a hold-in -- not practicing until the contract was done. He did attend practice and participated in everything the team did off the field, including meetings and film sessions.

Love could see the field as soon as Saturday, when the team goes in pads for the first time.

The earliest possible date they could have signed him was May 3 -- one year after his previous extension. NFL rules say an extension cannot be extended within the first 12 months. His previous deal added one year, the 2024 season, to his rookie contract. It was in lieu of the team picking up the fifth-year option on that deal. At the time, they gave Love a $8,788,655 signing bonus. His base salary for last season was $1.01 million. It also included escalators that would have added $5 million to a $5.5 million base salary for 2024 had the two sides not agreed to this new deal.

Love threw for 4,159 yards with 32 touchdowns and 11 interceptions in the regular season. He was one of four quarterbacks last season to rank in the top 10 in passing touchdowns (second behind Dak Prescott), passing yards (seventh) and touchdown-to-interception ratio (seventh).

Love did something neither Aaron Rodgers nor Brett Favre did in their first seasons as the starter: make the playoffs. He started all 17 games and, after a 2-5 start, the Packers finished 9-8 to make the playoffs. Love led them to a wild-card win over the Dallas Cowboys in which he threw three touchdowns and no interceptions before the divisional round loss at the San Francisco 49ers, which ended with a Love interception on the final drive.

It was on that late-season march to the playoffs when Love became convincing. Over the final eight games, he had 18 touchdown passes against just one interception while completing 70.3% of his passes for 2,150 yards.

"To go through the tough stretch in October and to see him so steady through all that, and just really lead our team to get better week in and week out, and to see the rewards at the end of the season, I was very excited for him and our football team," Packers general manager Brian Gutekunst said shortly after the season. "For as good as he played, there's so much more in front of him and just excited for him and where he's going."

This after Love sat for three seasons behind Rodgers. It wasn't until Gutekunst traded Rodgers to the New York Jets in April 2023 that the Packers handed the offense over to Love. Before last season, he had started just one game -- a 13-7 loss at Kansas City when Rodgers was out because of COVID-19.

"He had a hell of a year," Packers coach Matt LaFleur said shortly after the season. "Let's not look past that. He really did. Just to see the growth ... Obviously, the results speak for themselves, but the growth of him as just the commander out there, he's an extension of us, and I thought the ownership that he showed, the leadership that he showed, was a great sign for us."

Love did it surrounded by the youngest roster in the NFL.

"I'm really happy for Jordan," Packers president Mark Murphy said this offseason. "The way he played -- and not only the level he played at, especially as the season got on -- he just seemed to get more and more confident. But his leadership, we saw that throughout the offseason and certainly during the season, so I'm really, really pleased with the way he's played and I just think the future is really bright."